Francisco Partners Completes Investment in Ericsson's iconectiv Business
STOCKHOLM, August 10, 2017 /PRNewswire/ --
Francisco Partners, a leading technology investment firm, has completed its investment in iconectiv, an independent subsidiary owned by Ericsson (NASDAQ: ERIC). As part of the investment, Francisco Partners invests USD 200 million to acquire a 16.7% ownership in iconectiv. The partnership between Ericsson and Francisco Partners will enable iconectiv to accelerate growth and deliver shareholder value.
Headquartered in the United States, iconectiv develops market-leading solutions that enable operators to interconnect networks. The company's solutions are used by more than 1,200 service providers, regulators, enterprises, and content providers worldwide. iconectiv is also the global leader in providing numbering solutions and most recently was designated by the U.S. Federal Communications Commission to serve as the Local Number Portability Administrator in the U.S.
Francisco Partners is a leading global private equity firm, which specializes in investments in technology businesses. Since its launch over 17 years ago, Francisco Partners has raised over USD 10 billion in capital and invested in over 200 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep knowledge and operational expertise can help companies realize their full potential.
The USD 200 million has been transferred to Ericsson as a dividend. The transaction has no material impact on Ericsson group income.
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Ericsson is a world leader in communications technology and services with headquarters in Stockholm, Sweden. Our organization consists of more than 111,000 experts who provide customers in 180 countries with innovative solutions and services. Together we are building a more connected future where anyone and any industry is empowered to reach their full potential. Net sales in 2016 were SEK 222.6 billion (USD 24.5 billion). The Ericsson stock is listed on Nasdaq Stockholm and on NASDAQ in New York. Read more on www.ericsson.com.
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